IIP growth at 5.7% in November 2016 inspiring- PHD Chamber

IIP growth rate at 5.7% in the month of November 2016 is inspiring and we look forward to the continuation of the momentum in the coming months too, said Mr. Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry.

Despite the process of demonetization, growth at 9.8% in the durable consumer goods segment is encouraging. The growth in manufacturing sector at 5.5% is an indicative of steady industrial activity and reflecting the visible effect of various reform measures undertaken by the Government, said Mr. Jiwarajka.

Growth in capital goods at 15% envisages the uptick in investment activity and we can expect the investment regime to pick up in the coming months too, he said

The continuation of the reform measures would pave the way for a significant rebound in the industrial activity and overall growth of the economy, said Mr. Gopal Jiwarajka.